FastTrader Futures-Trading Journal

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Quote from version77:

I wouldn't do that during the deadzone. YM is kinda spooky when
everyone is eating lunch... :cool:
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Sorry...I should have been more clear. I mean't during MY lunch, which will be around 1:30 PM EST.

-Fast
 
Quote from Scientist:



And don't forget how cheap it is to get a seat for YM/CBOT. Last time I checked, it was something ridiculous like $12K to buy (!) a seat.

If you want to buy an IOM for Globex, you'll be shelling out ~200K+

Trading with a seat is dirt cheap. Unless you're scalping, doing serious size, why not trade YM?
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Most CBOT instruments are declining (YM, bonds) ... CME and Eurex are on the right track...

TM Trader
 
Quote from Scientist:

ER2 will take ages to get where YM is.

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Volume on ER2 is increasing at a good rate. I think it is outdoing
YM... Take a look at the volumes... ER2 is increasing % wise
compared to YM more quickly...
 
Quote from TMTrader:

Most CBOT instruments are declining (YM, bonds) ... CME and Eurex are on the right track...

TM Trader
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You think now's a good time to get a seat at the CME?

-Fast
 
Quote from Fast_Trader:

I might try scalping YM over lunch today. In the past, I haven't done so well with YM, but what the hell, it's only money and I'll give it a shot.

-Fast
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"It's only money" is exactly the attitude you need to succeed (not kidding). Better even, don't think about money at all. Hide the P&L or let it show in T rather than in $, it could work wonders for you.

As for your lower success rate - You probably get scared by the larger tick moves. It's only an illusion - Remember, as you just said, it moves like ES. It's only more ticks involved. Yet, if you look at the bars, it looks exactly the same.

Keep it simple, watch the ES & NQ in 5m charts, YM in 1, 5, 15, watch the ES & NQ tapes, and just make sure you stay within the ranges. I.e. if it's an uptrend, have a buy limit just above the bottom of the last 5m bar, and vice versa in a downtrend. This way, you can use tiny stops, like just a few ticks, and have large R:R ratios. Just make sure you milk your winners properly and don't close out just because you "have a profit", because that f*cks up your ratios.

Better even, don't close out out at all until you hit either your target or your stop... :)
 
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